The Stockholm based company said that the newly created company with the working name NewCo will focus on mining and civil engineering.
Under the plan to be put to shareholders next year, Atlas Copco will retain the compressor and vacuum businesses and will effectively be spinning off the mining and construction-equipment business that has weathered the downturn better than many competitors.
In December 2016, Atlas Copco acquired Air Power of Nebraska. Based in Omaha, the company sells, installs and services compressed air products and related systems to customers in the surrounding region.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems.